Asian markets were volatile on Tuesday with indexes shifting between gains and losses after a turbulent Monday.

Japanese stocks recovered from early lows, as investors looked for bargains in financials such as Mizuho Financial Group, while Hong Kong shares were unsettled due to gains in local property shares such as Sun Hung Kai Properties and losses in China-related resource stocks such as PetroChina Co.

In Tokyo, the Nikkei 225 average rose 0.3% to 16,311.03, after falling as low as

16,144.40 earlier in the day. The broader Topix index rose 0.6% to 1,584.13.

In Hong Kong, the Hang Seng Index opened higher, then dropped as low as 28,479.03 before recovering again. It ended the morning session 1.3% higher at 29,312.99. The index had dropped more than 1,500 points Monday. The 43-issue Hang Seng China Enterprises Index was also unsettled, and gained 0.6% at 18,402.66 at midday.